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JGBs Stronger in Thin Exchange, Focus on China-U.S. Deal

Japanese government bond rates were marginally firmer in thin exchange on Monday as traders anticipated a positive result on progress between Washington and, Beijing to agree to end their exchange row.

japanPhoto: Flickr

Benchmark 10-year Japanese government bond futures gained 0.2 points to 153.25, with an exchanging volume of 11,299 lots, its most minimal day-by-day volume in 5-1/2 weeks.

The key 10-year cash Japanese government bond yield dropped 1.5 bps to minus 0.090 percent.

The 20-year, the 30-year, and the 40-year yields slipped 1.5 bps each to 0.285 percent, 0.440 percent, and 0.470 percent, separately.

The two-year yield lost one bp to minus 0.210 percent and the five-year yield fell 1.5 bps to minus 0.200 percent.

Questions about Sino-U.S. exchange negotiations added early a week ago, in spite of the fact that good faith continuously returned as U.S. authorities sounded increasingly positive.

Chinese state media Xinhua said on Sunday that Beijing and Washington had “constructive talks” on exchange a high-level telephone call on Saturday, without giving subtleties.

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